Kiely Wealth Advisory Group Inc. Invests $219,000 in Energy Transfer LP (NYSE:ET)

Kiely Wealth Advisory Group Inc. purchased a new position in shares of Energy Transfer LP (NYSE:ET) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,862 shares of the pipeline company’s stock, valued at approximately $219,000.

Other institutional investors have also bought and sold shares of the company. Princeton Global Asset Management LLC grew its holdings in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. grew its holdings in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares in the last quarter. LRI Investments LLC bought a new stake in Energy Transfer during the first quarter worth $29,000. HWG Holdings LP bought a new position in Energy Transfer in the 2nd quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC grew its stake in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ET. Royal Bank of Canada increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. UBS Group increased their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $19.86 on Friday. The stock has a market cap of $68.00 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 0.62 and a beta of 1.66. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 1-year low of $13.11 and a 1-year high of $20.02. The stock’s 50-day moving average is $16.99 and its 200 day moving average is $16.30.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period last year, the company earned $0.31 EPS. Energy Transfer’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.50%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.